CIBC Asset Management Inc grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,085,771 shares of the company’s stock after acquiring an additional 188,004 shares during the quarter. CIBC Asset Management Inc owned 0.24% of Wheaton Precious Metals worth $44,199,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of WPM. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 3.3% during the third quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock worth $495,440,000 after acquiring an additional 485,237 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Wheaton Precious Metals by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after acquiring an additional 361,138 shares in the last quarter. Norges Bank acquired a new position in Wheaton Precious Metals during the fourth quarter worth about $243,010,000. Bank of Nova Scotia raised its stake in Wheaton Precious Metals by 2.1% during the second quarter. Bank of Nova Scotia now owns 3,900,644 shares of the company’s stock worth $168,690,000 after acquiring an additional 79,956 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Wheaton Precious Metals by 20.1% during the third quarter. BlackRock Inc. now owns 3,780,100 shares of the company’s stock worth $122,324,000 after acquiring an additional 632,870 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.
Wheaton Precious Metals Stock Performance
Shares of Wheaton Precious Metals stock traded up $0.65 on Friday, reaching $48.40. 1,030,136 shares of the company’s stock were exchanged, compared to its average volume of 1,538,817. The company has a market capitalization of $21.93 billion, a P/E ratio of 40.12, a price-to-earnings-growth ratio of 9.74 and a beta of 0.81. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $52.76. The firm’s 50-day moving average is $47.48 and its two-hundred day moving average is $44.43.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Wheaton Precious Metals had a return on equity of 6.94% and a net margin of 57.03%. The company had revenue of $223.14 million for the quarter, compared to analysts’ expectations of $241.33 million. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.1 EPS for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Monday, November 27th. Wheaton Precious Metals’s dividend payout ratio is currently 50.42%.
Wall Street Analysts Forecast Growth
WPM has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. Raymond James upped their price objective on Wheaton Precious Metals from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Berenberg Bank lowered their price objective on Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. TheStreet downgraded Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Finally, National Bank Financial lowered their price objective on Wheaton Precious Metals from C$75.00 to C$72.50 in a research note on Monday, September 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.
Check Out Our Latest Report on WPM
Wheaton Precious Metals Profile
Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 10, 2017. Wheaton Precious Metals Corp.
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